Farmland Sales Continue to Break Records

Farmland sales across the country are breaking price records. Especially in Iowa, where a $22,600/acre sale in August broke records, the same week several Iowa counties reported record sales, as well. Now in October, a $26,000/acre sale of farmland was reported in Johnson County, Iowa. However, appraisers believe the new feat likely won’t last long, as other record-breaking sales are expected in the near future. Another sale in Iowa drawing eyes is a 640-acre farm that was sold as 4 parcels with buyer privilege and found a $9 million bid. The kicker? The same buyer purchased all four parcels, an “incredibly rare event” according to Hertz Farm Management. However, other appraisers say the market could level out, as more farmland comes to market in the next 60 days. Read more on land values and price records here.